Question

Difference between amortization and depreciation in accounting with an example?

Answer 1

Answer:

$The key difference between amortization and depreciation is thatamortization is used for intangible assets, while depreciation is used fortangible assets. ... An asset's salvage value must be subtracted from its cost to determine the amount in which it can be depreciated.$

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Answer 2

Answer:

The key difference between amortization and depreciation is thatamortization is used for intangible assets, while depreciation is used fortangible assets. ... An asset's salvage value must be subtracted from its cost to determine the amount in which it can be depreciated. \

Explanation:

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